Icad Rises on Google Health Development Deal
28 November 2022 - 03:07PM
Dow Jones News
By Will Feuer
Shares of Icad Inc. jumped 25% after the medical-technology
company said it has struck a deal with Alphabet Inc.'s Google
Health to integrate Google Health's artificial intelligence
technology into Icad's portfolio of breast-imaging solutions.
Under the agreement, Google has agreed to license its AI
technology for breast cancer and personalized risk assessment to
Icad, which will validate and integrate Google Health's mammography
AI technology into its portfolio of technologies for breast cancer
detection, density assessment and personalized short-term risk
evaluation.
Google said the deal marks the first time it has licensed its
mammography AI research model, and that the deal marks an
inflection point in its breast-cancer detection work.
Icad said it has also agreed to use Google's cloud offerings to
accelerate the commercialization of Icad's cloud-hosted
offerings.
Icad said it also will incorporate Google Health's mammography
AI technology into ProFound AI Risk, its support tool that provides
a short-term breast cancer risk estimation using information
readily available from a screening mammogram.
Shares of Icad rose 25% to $2.25 in premarket trading. Through
Friday's close, the stock was down 75% this year.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
November 28, 2022 08:52 ET (13:52 GMT)
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